American multinational hospitality company Hyatt will be adding more number of hotels this year versus 2023 as it expects a rebound of leisure and business travel in the country.
The hotel will be launching seven new hotels in 2024, up from four last year.
The company while announcing its pipeline for the India market as well for the Southwest Asia region said that it will expand the presence of its luxury and lifestyle brands in India.
In February, it brought its JdV by Hyatt brand, which includes boutique hotels, to India. The JdV by Hyatt brand is the ninth Hyatt brand to be introduced in the country.
After launching Ronil Goa, which is part of the JdV by Hyatt brand, the hotel company will launch Hyatt Regency in Kasauli and Ghaziabad, Hyatt Place in Aurangabad and Haridwar and Hyatt Centric in Kolkata and Bengaluru.
In 2023, Hyatt’s brand footprint expanded in India with the openings of Hyatt Place Bodh Gaya, Hyatt Place Vijayawada, Hyatt Place Goa Candolim and Hyatt Centric Rajpur Road Dehradun.
The expansion across leisure, corporate and spiritual tourism segments has strengthened Hyatt’s brand presence in India and the Southwest Asian region.
“Southwest Asia continues to demonstrate high growth potential and is among the top global growth markets for Hyatt. We have strong expansion plans for 2024 across our portfolio encompassing our legacy brands like Hyatt Regency, Hyatt Place and Hyatt Centric across destinations that will strengthen our brand presence in key markets. This expansion represents our strong commitment and confidence in the Southwest Asia region,” said Sunjae Sharma, managing director, India & Southwest Asia, Hyatt.
Hyatt had a target of reaching 50 hotels by 2023 and plans to add 10 hotels annually for the next 5 years.
“Complementing our current portfolio of Hyatt brands in the country, the introduction of the JdV by Hyatt lifestyle brand in India signifies a strategic milestone in Hyatt's expansion within the leisure and business segments. We look forward to further enhancing our distinctive brand footprint throughout the sub-continent.” Sharma added.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
